Italcementi sells 5.24% of West China Cement

Italian cement manufacturer Italcementi has sold its 5.24% stake in West China Cement, which is listed on the Hong Kong stock exchange, through its Chinese subsidiary, CimFra. The operation is worth HKD 341 million (€38.80 million/US$44 million), subject to adjustments relating to a derivative contract that was underwritten with Credit Agricole CIB at the same time.
September 25, 2015 Read time: 1 min

Italian cement manufacturer 726 Italcementi has sold its 5.24% stake in 8042 West China Cement, which is listed on the Hong Kong stock exchange, through its Chinese subsidiary, CimFra.

The operation is worth HKD 341 million (€38.80 million/US$44 million), subject to adjustments relating to a derivative contract that was underwritten with Credit Agricole CIB at the same time.

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